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plans that democrats used to support but now they won't. i don't want taxes to go up. republicans don't want taxes to go up. but we only run the house, democrats continue to run washington. >> gregg: national correspondent steve centanni joins us live from washington. >> reporter: d.c. may be some shutting down for christmas but the clock hasn't stopped and fiscal cliff is closer than ever. no deal was reached this week to keep taxes from going up. joan boehner pulled plug on the plan "b" and he says it is now up to the president and g.o.p. is continuing to hammer away at president obama. >> this is the year size of our debt surpassed the our economy. a grim milestone if we don't come to grips to w it. the president's plan to raise tax rates ko could still be as far as eye could see. >> reporter: president obama will return after christmas and work on fiscal issues. he believes a comprehensive deal could be reached but he seems to be acknowledging for scaled back plan for cutting taxes on the middle-class. >> even though democrats and republicans are arguing about whether those rates
stocking. higher taxes, lawmakers and president obama have left washington for christmas with no deal on tax hikes and spending cuts set to go in effect after the first of the year. brianna keilar is live in hawaii where the president is spending the christmas holiday. brianna, the president maybe a little too optimistic that a deal can be reached? aloha, by the way. >> he did say last night that he is a hopeless optimist that something can get done, but what we know, it's not going to be that big package, obviously of deficit reduction as well as dealing with these tax hikes that are set to kick in. that's not what's going to be happening, instead, he's pressing for something smaller just to a deal with stopping those tax hikes from kicking in for americans making $250,000 per year or less. and also trying to make sure that unemployment benefits are extended. listen to what president obama said last night and also listen to what some of the house republican resistance from speaker boehner to his sort of short-term plan here. >> in the next few days, i've asked leaders of congress to
, if you are at work you can make some really good buys. you have the january effect, the tax loss selling going on all month. this year is an unusual year in that you have also not just tax loss selling but you have people taking gains on stocks that they've held for years that they're trying to take advantage of, the 15% capital gains rate. we've seen a lot of that. the point is there's been a lot more selling this december. i look for several stocks to bounce back in early january. >> you are on hold until you can see the whites of their ey in washington. right? i mean, you're waiting to see what happens with this fiscal cliff? >> i am. i tell you, i think that the christmas gift people are getting right now is to sell above 13,000. we were surprised we're not getting a deal. i'm surprised the market's as firm as it is and it is very easy to overthink this. well, must be firm. the bulls are strong. hey, we go higher. i think that's not the read at all. i think the initial reaction we got when they sent the house of representatives home on thursday night is what we're going to see when t
the cliff. i'm. patti ann: i'm patti ann browne. they will try to avoid the across the board tax hikes for 90% of the american households and deep spending cuts. so far little to no progguess has been reported. gregg: chief white house correspondent ed henry is in the white us. ed, what do we expect out the meeting if any at all? our expectations are a little bit low. >> reporter: you're exactly right, gregg, expectations have to be low. lawmakers of both parties in conjunction with the president have missed one deadline after another. we have been saying for a couple weeks they had to get moving get this completed before christmas in order to give the house and senate time to debate and end up voting on whatever package they come up with. now that we're days away from actually going off the fiscal cliff where these automatic massive spending cuts as well as large tax increases got into effect you have to have low expectations. it appears the white house is very confident in waiting for the republicans to make the next move. they keep saying inside the white house this is up to the rep
for the holidays leaving the clock ticking down to an across-the-board tax increase for most americans. ten days is enough time to make a deal if republicans and democrats each decide to give some more ground. but tonight there are no such signs. that leaves millions of holiday shoppers tonight spending money against a paycheck that may soon get noticeably smaller. we'll dig down on how this could affect your bottom line. but first, let's find out where negotiations stand. nbc's kristen welker is traveling with the president in honolulu. hello, kristen. >> reporter: lester, good evening. president obama played a round of golf this afternoon but white house officials say this is also a working vacation for him and for his staffers. that is little comfort for the millions of americans wondering what the uncertainty in washington means for them. president obama arriving in hawaii after leaving a washington in disarray. while the president put politics aside for his weekly address -- >> michelle and i want to wish you a merry christmas and a happy holidays. >> reporter: -- on friday the focus was on
cliff package that president obama laid out on friday, which moved the tax hike needle to $400,000. no word yet on when the house of representatives might come back, but democrats say the only hope we have of something getting through the house, the senate and the white house may be a very last-minute deal. cnn radio's lisa is following developments on capitol hill right now. the ball is in senate majority leader harry reid's court it would seem right now, lisa. >> that's right. harry reid and the senate seem to be the only game in town right now with the senate returning today. we also know from sources, ali, that over this christmas break there were no conversations between the president and top-level republicans. sources from both parties are telling us they are watching the senate, especially the democratic leadership in the senate. we also know yesterday house republicans came out with a statement saying that he will act only after the u.s. senate acts. we're not sure what the senate will do, as you say, we're expecting that smaller deal. what exactly will they vote on? pe
the tax increases and more importantly the spending cuts. the other thing you get out of that is if you allow the tax increases to go into effect a lot of those republicans think they have a better shot at tax reform next year when you instantly have a broader tax base. the numbers are sort of come complex. when the bush tax cuts went into effect fewer people had an income tax liability. this is what mitt romney was talking about last year with the 47%. if the tax rates increase you all of a sudden have more people paying income taxes and you just have a broader, higher rate to play with. next year when they come back they can get rid of some of the duck -ts and what not and lower the rates and overall have a lot more money in the system to play with, a lot more options. they think they are better shape for tax reform if they come back next year with the rates having gone up. >> reporter: and by not allowing the president to just add nah see um raise the debt level, they have leverage, don't they? >> they believe so. and the president -- it's safe to say the president realizes that, bec
at how it will affect you and your pocketbook. today we're focusing on that potentially higher tax bill. ryan mack is president of optimum capital management and joins me via skype from detroit. good morning again, ryan. >> good morning, how are you doing? >> i'm doing pretty good, but we have to talk about tax rates and after that i don't know how i'll be doing. >> i understand. i understand. >> how much higherould tax rates go? >> well, we're looking at the top tax rate going to as high as 39.6% from 35%, the discussions of compromising a level of 37%. capital gains taxes increasing from 15% to 20% pre-bush tax levels. then estate taxes going as high as 55% with the $1 million exemption and currently the 35% with a $5 million exemption so we're definitely going to see a big change coming forward. >> so when will we feel it? >> well we won't feel it until 2014, when the majority of it, when the individuals file their 2013 taxes. the payroll tax cut was for individuals earning $50,000 a year, might fill a lessen in their total check in january, the majority not until 2014. >> so is ther
: on saturday they will try to agree on legislation preventing income tax, providing pay cuts to medicare providers and fixing the alternative tax. the president says an agreement must include an extension of unemployment benefits. republicans called for a measure to overt and estate tax hike. >> nobody's going to get 100% of what they want. >> reporter: on sunday, they'll try to get their senators to back the vote and schedule a vote. so the pressure is on for senator majority leader harry reid, and mitch mcconnell, be sure no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor and leader nancy pelosi to predict a huge number of democrats needed to pass it. but if that plan falling through -- >> then i will urge senator reid to bring to the floor a basic package for an up or down vote. >> reporter: the president's basic package has much more for democrats to like. so don't expect that to get very far, but all sides now agree the senate must first pass a bill before the house makes any kind of move. so all eyes will be on mitch mcco
spending cuts and big tax hikes by january 1. the growing number of lawmakers say they are deeply skeptical that a deal can be reached in the next seven days, and we're beginning to hear new reports suggesting the president may have a smaller deal in mind, one that will keep tax rates where they are and, again, put off the issue of spending cuts. chris stirewalt, fox news digital politics editor, host of "power play" on foxnews.com, chris, good to see you. i was reading your recent column, i want to put a portion of it up on the screen, and i'll quote you: gregg: explain what you mean. >> a cheerful christmas thought, gregg. [laughter] merry, merry. no, when we look back at 2012, if you take a minute and look back at the arc of this year in politics, what you saw was the smallest -- it was the most expensive, but it was the smallest presidential election maybe if history. we didn't talk about anything. the president did talk about higher tax rates, but mostly it was as a way to talk about mitt romney's taxes himself. and we didn't talk about much in this except for mitt romney's character a
hawaii for washington, and the senate is reconvening today. now the automatic spending cuts and the tax increases that make up the fiscal cliff, they're set to take effect in just five days. much more on the fiscal cliff crisis, the effort to reach some kind of agreement later this hour. we're going go live to capitol hill for the latest as the senate returns to work. that is coming up in about 20 minutes. >>> and president obama's going to have another cabinet position to fill for the new year. we learned a short time ago apa lisa jackson is stepping down after the president's state of the union speech in january. jackson starting with the agency as a staff level scientist back in 1987. during her tenure as administrator she tackled pollution problems in poor community communities. oil drilling and coal regulations. all those things on her plate. jackson said she is confident epa is headed in the right direction. >>> winter storm causing some real headaches. millions of folks in the mid-atlantic states, we're looking at heavy snow, torrential rain, strong winds, dangerous travel condit
at the period following the december 31st deadline we're told to come up with a fix to avoid massive tax hikes and spending cuts, affect lives of nearly every american many economists say could plunge the economy into another recession. chief white house correspondent ed henry live with the latest. so in this meeting, ed, is there any hope they will accomplish anything? >> reporter: well it is pretty low expectations, jon. what we're expecting when you talk to top officials of both parties the president will offer a scaled back plan, something he laid out lines friday before christmas here in the white house briefing room before he went to hawaii. where he said look, we have to scale back expectations. basically just extend middle class tax cuts. don't worry about the rates for everyone else. secondly extend unememployment insurance for about two million people who will be losing it a few days from now at the end of the year. finally he refer to possibility of smaller bit ever spending cuts. not major entitlement rerecall to. not major cuts to medicare like had been on the table in so-called p
in making a deal to avert across the board tax hikes for 90% of the american households. it's been 10 days since the president and the speaker held any substantial face-to-face meetings. is time up or is it still possible for both sides to reach a last minute deal? let's put the question to byron york of the "washington examiner". too late or, gosh, maybe this is so easy you can wait until the last minute? >> i guess it depends whether you believe in miracles, gregg. gregg: i don't. >> the only thing that is really happening is the days are ticking by. i think what we've got is, you go first situation here. remember, after the so-called plan b failed in the house, john boehner, speaker of the house said, look, it's up to the senate. we'll not do anything more. we already passed a bill a while back that would extend bush tax cuts for everybody. it is up to the senate to do something. you have senate minority leader mitch mcconnell, the republican saying it is up to the democrats to do something. we'll not do anything until president obama and the democrats come up with a plan and president
to work toward a package that prevents a tax hike on middle class americans. >> this is something within our capacity to solve. it doesn't take that much work. we just have to do the right thing. so call me a hopeless optimist, but i still think we can get it done. >> earlier in the day, speaker boehner held a news conference. a vote on his so-called plan "b" was scrapped thursday night when it became clear it did not have enough support among house republicans to secure passage. >> a situation where because of the political divide in the country, because of the divide here in washington, trying to bridge these differences has been difficult. if it were easy, i'll guarantee you this would have been done decades before. >> joining me now, congressional reporter for "the washington post," ed o'keefe. good to see you. >> good to see you too. any kind of realistic timetable that this will be done before january 1st? >> what the president is most concerned about now, making sure unemployment insurance is extended for those that need it and where taxes remain where they are for people making u
with just 36 days to go until tax increases kick, in the white house and congress are playing a high stakes game of let's make a deal. >> only in america believes there has to be this what i believe to be really farcical now surely -- the nature of the world is very fast moving, america has huge economic problems, heading for another fiscal cliff, everyone laughing at you from afar, the american public sick and tired of all the games going on and there are you, grover norquist, a very bright guy still resolutely saying a pledge is a pledge is a pledge, it cannot be broken when many of your own party are now saying you know, what it doesn't make sense to have this irresolute position anymore. >> two things, the pledge is not for life. but everybody who signed the pledge, including peter king, who tried to weasel out of it -- shame on him as the "new york sun" says tonight. i hope his wife understands commitments last a little longer than two years or something. >> whoa, hang on, hang on. that was a bit below the belt, grover. >> hey, if you think a commitment is not for as long as you make i
plan b. then the president urge congress to pass a bill to keep the taxes from increasing on 98% american people taxpayers. let's take a listen. >> we have a number of our members who just really didn't want to be perceived as having to raise taxes. >> i expect democrats and republicans to get back to washington and have it pass both chambers. i will immediately sign that legislation into law before january 1 of next year. >> congresswoman, with time running out, can the house come back after christmas and pass a bill, any bill to avoid the fiscal cliff? >> well, alex, i'm one of the vote counters for the democrats. i sent a letter to speaker boehner yesterday. you need to you a ban don the idea that you have to have a majority of the majority to pass legislation. in other words, speaker boehner said here's my plan. and forget you, democrats, and i'm just going to pass it with my caucus and then -- his tea party rebelled against him. what i think he should do, come to the democratic leadership, put together a coalition in the middle, moderate republicans, moderate democrats, and
the fiscal cliff, just four days left before we go over the edge triggers tax hikes, spending cuts that could send the nation back into recession. the president calling for members of the congress the back. a gang of six attending. vice president biden, harry reid, house minority leader nancy pelosi, mitch mcconnell and john boehner representing the republicans. brianna keilar is live from washington. is anybody optimistic that a deal could be done today around a table? >> i will tell you the optimism is sort of sinking. senate majority leader harry reid said he doesn't see how it can get done by january 1st. we heard from president obama before he left from his vacation that he was optimistic. logistically the white house will tell you it's possible. when you listen to what you're hearing some of these congressional leaders say, there's a lot of posturing laying blame to the other side if we do go over the cliff. take a listen. >> republicans are not about to write a blank check for anything senate democrats put forward because we find ourselves at the edge of the cliff. >> we are here in wa
about the fiscal cliff lately. how will it actually affect you? what happens to your taxes if we go off the cliff? according to the tax policy center if you're sing well no children and make $50,000 a year you will see your taxes go up by $1,500 if no deal is reached. married couple with two kids making $100,000 would see their taxes go up a whopping $5,300 per year. taxes will go up the same amount underneath the democratic and republican plans if no deal is reached. just one day after the christmas holiday, president obama is packing his bags, heading back to washington to try to forge a deal on the fiscal cliff, with just six days left to negotiate, a deal to avoid the catastrophic cliff, the president will leave hawaii tonight to try to work on a bargain between democrats and republicans. brianna keilar is traveling with the president in hawaii and joins us now. good morning, brianna. did the president cut his vacation short or was it planned all along? >> reporter: he did cut his vacation short from what was initially planned which was to go through the new year, so yes, he cut it
that sentiment, if no deal is struck by next tuesday. people ma taxes will go up for everyone. you can see the numbers here, 40 to 65,000, it's $2,000 of a tax hike. so as constituents, if they were to call you and they say why is this happening, what are you going to say to them? >> well, first of all, that's not going to happen. we may go off the cliff on january 1st but we would correct that very quickly thereafter. what i'm telling them is the reason it's happening is we have idey ideologues in the house of representatives who don't believe there's a fiscal side of the budget. they're focused on cutting spending in unprecedented ways and they don't believe in taxes essentially. on the budget committee we've seen this day in and day out. these members of the house, and i don't know how many of them there are, but at least 50 or 60 basically have established a record in which ne hathey have firmly embraced the concept of not raising taxes and serious cuts that they put themselves in a box and they really can't get out and that's really tying up everything. because we can do a deal very q
the cliff because then tax less go up. take a listen. >> when i listen to the president i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all this additional tax revenue for new programs. he gets to cut the military which democrats have been calling for, for years. and he gets to blame republicans for it. >> reporter: democrats say that is ridiculous, that the president has been working with republican leaders again and again trying to workout some sort of a deal, both on spending and taxes to avoid the fiscal cliff, and democrat chuck schumer yesterday said the real problem is that republicans won't admit the president won the election and that tax rates are going up. take a listen. >> on taxes, i know it's hard for the republicans, but the president ran on that platform, 250, no tax increase for people below, but taxes for people above, he won 60% of the voters said they were for it in the exit polls, including some republicans. >> reporter: all eyes now turning to the possibility
getting close to some sort of a deal, a deal that would have dealt with deficit reduction as well as tax reform, but that all fell apart and now there's a big question mark about how they move forward and the president himself acknowledging when he addressed the nation on friday that given the tight timeframe, hopes for a larger deal have all, but faded and he's calling on congress to work together to just get a deal that would have at the very least extend lower tax rates for those making $250,000 or less and also to extend unemployment insurance and to help lay the groundwork for deficit reduction in the future. right now the expectations have been lowered a great deal in terms of what is actually possible and you heard the president say that he is still optimistic that something can get done before the january 1st deadline and of course, there's a lot of pressure for these lawmakers to get something done because if they don't the economy could go back into a recession eventa you willy. >> kristen well wiker with the president in hawaii. >>> joining me now from his home district in ver
. and a mad scramble is on here in washington to avoid the drastic tax hikes and spending cuts that many fear will plunge the economy back into recession. president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today among those house republican leaders trying to figure out if and when the house should come back into session. two republican sources tell me they did not make a decision on this call. it's still up in the air. and a big reason for that is if anything can get done in the next six days, the ball is in the senate's court. the capitol is a ghost town. neither chamber in session. an eerie calm since the fiscal cliff only congress has the power to avert is less than one week away. from their home, senate demo
monday when the two sides offered up concessions on tax hikes for the wealthy. boehner offered lower tax rates for people earning up to $1 million a year. the president offered lower tax rates for people earning up to $400,000 a year, plus tweaks for computing entitlement benefits, okay? well, today boehner was very firm. his message for president obama, the ball is in your court. >> the president and senate democrats have vowed to reject and veto all of our proposals while failing to offer responsible solutions of their own. what the president has offered so far simply won't do anything to solve our spending problem, and begin to address our nation's crippling debt. and he refuses to challenge the members of his party to deal honestly with the entitlement reform and big issues facing our nation. that's why we find ourselves here today. >> president obama did not mention fiscal cliff talks in his weekly address. the president's christmas break in hawaii may be quick. he is planning to return to washington right after christmas. brianna key lore keilar in honolulu. what happens now, is it
that prevents a tax hike on middle-class americans, protects unemployment insurance for two million americans, and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> reporter: you hear we are talking about the words "achievable goals." the reality here is we have fewer days to work with, less talk about some sort of a grand compromise, and more talk about trying to do something to get things done for americans. randi? >> what do you make of the language and tone? i mean, is any sense of a deal sort of evaporating judging from what we're hearing from both sides, tough talk? >> at the very least, we aren't hearing a lot of warm words between the two toward each other. we know they've been working on this for weeks. you just don't hear that thawing when you hear them talking as they did just within the past 24 hours. shows a lot of work to be done in the next few days. how much is behind the scenes when they're divided geographically is the part we don't know. >> yeah. the president certainly also asking -- sugg
before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion in drastic and draconian allic tax hikes and spending cuts. that will cause a lot of pain for all americans and does congress have enough time to act on this? >> they do. you know it will be very close and it may in fact go beyond the deadline per se although people are thinking at the moment it is possible to get something done by the end of this week. the key here, kelly, is the senate. we have been so focused on the house, speaker boehner, plan. about, plan b falling apart. now speaker boehner is pointing towards the senate and the white house is pointing towards the senate as a place where we might get bipartisan cooperation. they think they have 10 republi
is restricting jobs and tax base. i would encourage people to get involved in your institute and fight this because it is not doing anything for the economy or our country. merry christmas to everybody. host: john, thank you for the call. what is the history of the cato institute, founded in 1977? guest: it was founded to promote liberty and economic freedom, starting in san francisco, and then move into washington, d.c. milton friedman admitted the kindle institute has never sold out. we still work for liberty and freedom. i've been working with the cato institute since 1995 and full time since 2007. host: mary, fort washington, maryland. democrat. caller: i would suggest thinking that if you follow all of the problems come at the end of the trail you will find the smiling grin of greed. that is what i think caused it. for myself, naca program helped us, taking us out of the ugly arm. my mortgage is $964 a month, which will allow us to stay in our home comfortably. guest: people blame things like a financial crisis on greed, but greed is not changing. it has been with us for hundreds
tax code will help us get our economy moving faster and put more americans back to work. and more americans on -- how we get there, god only knows. >> i asked for a compromise from members of congress, i met them more than halfway on spending and met them halfway on taxes. in terms of actual dollar amounts, we're not that far apart. as of today, i am still ready and willing to get a comprehensive package done. >> but time is running out. to reach an agreement, there are now just ten days left until automatic tax hikes and spending cuts do take effect. the s&p 500 and the nasdaq finished in some negative territory for the day. investors fear the country could slide back into recession if there's no deal to prevent automatic tax hikes and spending cuts. >>> staying in washington, senator john kerry is in line for a new job. president obama officially nominated kerry to be the next secretary of state. he's currently the chairman of the senate foreign relations committee. secretary of state hillary clinton said she wanted to leave the job after president obama's first term. >>> well,
he made. he limited the reach of the tax cut, changed the indexing of social security. he put that stuff in there to get republican votes. i think if john boehner -- and it would take courage, said we're going to let the whole housework its will, you can't pass a lot of reasonable bills if you worked from the center out instead of starting from the far right and see what they can take. it's clear they're not going to accept much of anything that might be helpful. >> red state was reporting 34 would bolt from the caucus. what's your thought here, e.j.? did the republicans do a disservice to themselves? >> absolutely. i think they took themselves out of the negotiation. in the end, the house has to approve something. you were mentioning that a deal could start in the senate. even if you get something through the senate, is it stalls has to pass the house. again it's john boehner taking a big political risk, but saying we're going to put together a coalition of republicans who want to govern and pass something together with democrats who want to govern and pass something. >>> i w
center is up next. gregg: and just eight days left until massive tax hikes and spending cuts kick in affecting the lives of every single american. so with washington on vacation, is this now simply unavoidable? we'll take a look for answers next. >> i think the president is eager to go over the cliff for political purposes. i think he see as political victory at the bottom of the cliff. heather: we have breaking news of yet another shooting. just crossing the wires. report that is a gunman has opened fire on firefighters responding to an emergency. this happening in webster, new york, near lake ontario. david lee miller live in our new york newsroom with the latest. david lee, what can you tell us? >> reporter: many details are still sketchy, heather but at this hour i can tell you firefighters were responding to a blaze at 6:00 this morning in the town of webster. webster is a suburb of rochester, new york. it is difficult to fight a fire when temperatures are 30 degrees. someone according to media reports, someone opened fire on firefighters. two firefighters are being treated.
's a law passed that ensures 98% of americans know their taxes are not going to go up in just under two weeks. he also wants to make sure that 2 million americans who would otherwise lose their unemployment benefits if we went over the fiscal cliff would be able to keep those benefits. and finally he says, look, we can take a look at the longer term proposals, the larger reform at a later point. just lay the ground work at this point. we also know before the president left, he talked by phone with house speaker john boehner. he met in person with harry reid, although what the private happened, we don't know. but publicly things sound a lot like they have for the past few weeks. take a listen. >> every member of congress believes that, every democrat, every republican. so there is absolutely no rea n reason, none, not to protect these americans from a tax hike. at the very least, let's agree right now what we already agree on. let's get that done. >> what the president has offered so far simply won't do anything to solve our spending problem and begin to address our nation's crippling d
to avert what we're calling the fiscal curb. a series of automatic tax increases and spending cuts to take affect a week from now. a moment this week, the two sides seemed on the cusp of a deal. that would have involved at least one major concession from president obama. to cut social security benefits. the cuts wouldn't have been direct. they would have come from a tweak to the way the social security benefits are calculated. here's how it works. right now the amount of money a retireee gets from the government gets is changed due to the index. when inflakes goes up, social security recipients see their payments go up the same amount to keep up with the cost of living. obama proposes switching to "chained cpi. "the name is opaque but the name is simple. the chained cpi rises more slow lie than regular cpi. if you yoois chain cpi to calculate social security benefits the amounts of the social security checks will rise more slowly, as well, against inflation. for about two days, this major concession opposed by many progressive lawmakers seemed close to becoming law until jeanne boehner wal
was to show the american people that the $250,000 ceiling on raising taxes wouldn't pass in the house. why didn't they have that vote? because it would have passed. they wanted to kill it. the speaker wanted to show everybody that it wouldn't pass the house. but he couldn't bring it up for vote because it wouldn't pass. republicans -- a myriad of republicans think it's the fair thing to do and of course every democrat would vote for that. the republican leader finds himself frustrated that the president has called on him to help address the fiscal cliff. he's upset because, quote, the phone never rang. he complains that i have not passed the resolution to pass the fiscal cliff but he's in error. we all know that in july of this year we passed in the senate the relief that would give -- that would give to middle class americans. that passed the senate. now, we know that republicans have buried themselves in procedural road blocks, everything we try to do around here. and now they are saying, well, we can't do the 250 because it wasn't blue-slipped, because it will be blue-slipped. mr. presi
of the cliff. he gets the additional tax revenue for new programs and he gets to cut the mill their, that democrats have been calling for and he gets to blame republicans for it. >> top allies note he has tried to get a deal for weeks and says the real problem that republicans won't admit that obama won the election. >> on taxes, i know it's hard for republicans but the president ran on the platform. 250. no tax increase for people below but taxes for people above. he won. 60% of voters said they were for it in exit polls including republicans. >> wake of house speaker john boehner's plan "b" failure, all eyes turn to senate leaders harry reid and mitch mcconnell and whether they work out something short of $4 trillion grand bargain. last-minute stop gap. attending tax cut for people making $250,000 or less. and unemployment benefits for 2 million people who will lose the benefits a week after christmas. >> it is going to be a patch. because in four days we can't solve everything. >> yet, other republicans note the president short-term fix raises some taxes, yet punt spending cuts u
the country to go off the fiscal cliff to gain political points are lawmakers playing chicken with your taxes? >>> and a winter storm may be headed your way. who may be getting a white christmas and what it means for your holiday travels. we'll have all of that, coming up. good morning, everybody. welcome to early start. i'm alina cho in new york. >> and i'm dana bash in washington. john and zoraida are off. >> a developing story in afghanistan. an adviser to the afghan police has been shot and killed by a woman wearing an afghan police uniform. the latest in the series of green on blue insider attacks and our pentagon correspondent barbara starr joins us live with details on that. good morning. how unusual is this? >> well, alana, sadly this is a story we've report sod often during the year, haven't we? the details on this attack are different in one respect. as far as we know this is a case where a woman, an afghan woman in a police uniform conducted this shooting and killing. a contractor in cab uhl police headquarters. the nato alliance has already announced the incident but not said the
a political victory the on the bottom of the cliff. >> on taxes it's hard for the republicans, but the president ran on that platform, 250, no tax increases for people below but taxes for people above. he won. >> reporter: those comments cap aa week in which house speaker john boehner and president obama seemed close it to getting a deal, which included tax reform and deficit reduction. the talks fell aaparpaapart. >> how we get there god only knows. >> speaker boehner tried to pass an alternative bill that allowed tax rates to rise on those making a million dollars or more. >> they weren't taking that out on me. they were dealing with the perception that somebody might accuse them of raising taxes. >> reporter: before jetting off to hawaii, president obama was prepared to accept a smaller deal as long as it prevented taxes from going up on middle class americans and extended unemployment insurance. >> i expect democrats and republicans to get back to washington and have it pass both chambers, and i will immediately sign that legislation into law before january 1st of next yea
-dollar. instead he wanted to extend tax cuts for the middle class. he wanted to extend benefits for 2 million people that will lose those benefits a week after christmas. republicans are saying they think the president actually wants to go off the fiscal cliff for political gain. take a listen. when i listen to the president i think the president is eager to go over the cliff for political purposes. additional tax revenue for new programs. he gets to cut the military which democrats have been calling for for years. and he gets to blame republicans for it. >> now, republicans are also skeptical of the short-term deal the president is talking about because it would leave spending cuts until next year. not deal with them now. republicans don't like the idea that some taxes would go up. meanwhile, the spends cuts wouldn't come until later. although democrats on the hill say the real reason republicans have not sealed the deal with the president yet is they just won't admit that he won the election. take a listen to senator chuck schumer. >> on taxes i know it's hard for the republicans but the pr
, and everyone else will be paying much higher taxes. president obama is challenging congress to get it done. >> in ten days we face a deadline. in ten days under current law, tax rates are scheduled to rise on most americans. and even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agrees that tax rates shouldn't go up for the other 98% of americans, which includes 97% of small businesses. >> let's check in now with cnn's emily schmitt in washington. the president made this surprise late appearance yesterday. he urged republicans to approve, i guess what you might consider a stripped down deal. this all happened around dinner time. so a lot of folks might not have seen it. give us the details. what is he proposing? >> well, i have to tell you, a few minutes ago, president obama landed in hawaii, 72 degrees there was the temperature on the ground. certainly warmer than it is in washington, certainly warmer than the political climate that president obama left behind here here in washington. i
in sight just more of the same way blame game . e week before the taxes are going to sky rocket. steve is live in washington. >> good morning, gretchen and everybody. washington is shut down for the christmas holiday . when everybody does come back to town, the ball will be in the democrat's court because speaker boehner was unable to bring his on board. for the plan b. >> onous is on senator reid and the president to come up with a solution and present it to the house and get back to the bargaining table. >> now the president has insisted on a tax hike for the healthy but wants that at $250,000 or $400,000 and not one mill yen and even though the president scaled back his expectations for what can be accomplished some democrats said a grand bargain shouldn't be that hard to reach. >> we ought to take peeker boehner and the president's last offer and split the difference and it would be a package 2.6 trillion can couple that with 1.1 trillion and that would be close to four trillion needed to stabilize the debt and bring it down. >> the president and members was congress will return to
-standing relationship with. >> anyway you are doing a good job. >> i have this little gas tax bill though that i'm starting out minimally. i'm not giving -- getting any support, even minimally. i bet on all my arguments and i have people worrying about it now. they won't raise taxes because grover said no. >> when coburn takes off 6 billion on ethanol and grover calls it a tax increase, i called him. >> tom is helping on this. i'm gaining ground. >> is she well? and to listen there. sam donaldson said he would. >> would you mind holding this book for her one of our member's? >> i didn't write this book. i don't get any money out of this. the money goes to the author. i don't get any. no, it's true. >> thank you so much, sir. thank you so much. >> you are welcome. yours get special care. >> hello, senator. i used to work with michael toner at center thurmond's office in the 80's and this is my husband. we are big fans of yours. >> i needed in my line of work. >> you are sweetheart. it's so nice to see you and i can't wait to read this. a. >> it's a good book. i will personalize it. >> we are gett
. it will damage our economy. it will hurt every taxpayer, the largest tax increase in history. it will affect everybody, and anyone who is watching who thinks, oh this isn't going to impact me, you will fin out d o will, and we know the problem is a lot of spending. not that we're not taxing people more, we're just spending too much. we hope that the president understands that as for as republicans are concerned, we're willing to negotiate and have a civil conversation, but also he's got to bring in some spending cuts and tax reform, because americans want tax reform and we don't want to hurt the economy, and, look there, are not enough millionaires in the united states to tax them all to be able to spend our way out of this problem. so let's -- let's give up a little bit -- each side can concede a little. and i think we can fin middle ground. i'm optimistic. >> we had your colleague nan hayworth last hour. she was expecting work to be done in the senate. the house did its best, boehner did his best, now it's up to the senate to come up with something. is that your position now, your understa
to work together to at least prevent taxes from going up. he had has acknowledged that there's not enough time to get a large sweeping deal done. he said yesterday, members of congress should take the days of vacation to cool offer, and gain perspective and come back ready to work to get something done. will it happen? we will have to wait and see, the clock is ticking on these negotiations. richard? >> joining us now is mark murray, he is the senior political editor. mark, when we look at the after plan-b failed, what are some of the scenarios that you worked out as we look forward to the limited days ahead of us. the first is what was laid out, it's a quick fix that you end up having. it would originate in the senate and it was no surprise that harry reid was meeting yesterday, it would be a short-term fix to prevent the fiscal cliff. the other is the grand bargain, and time is running out, it's unlikely you will get something like that, however, there's a chance that john boehner and republicans say, mr. president, the last offer that you had on the table, we agree to. and the third op
toward a package that prevents a tax hike on middle-class americans and that's an achievable goal that can get done in ten days. >> i don't want tax rates to go up and republicans don't want tax rates to go up. the best way to address our crippling debt is to make significant spending cuts and fix our tax code, to pave the way for long-term growth and opportunity. >>> nbc's kristin welker is traveling with the president in hawaii and kristin, the president you are just learning he thinks some time off could do everyone some good here. >> that's right. on friday when president obama spoke to the nation before he left to come to hawaii he urged members of congress to take these days off during the holidays, to cool off and to gain some perspective. here's more of what president obama had to say. take a listen. >> so, as we leave town for a few days to be with our families for the holidays i hope it gives everybody some perspective. everybody can cool off. everybody can drink some eggnog, have some christmas cookies and sing some christmas carols, enjoy the company of loved ones. >>
-cent sales tax dedicated to water and sewer infrastructure. hunter: that sales tax counts for about a third of the revenue of the department right now. franklin: we got 75% of the voters to agree to tax themselves so that their children and their children's children could have clean water because we're investing in it now. hunter: there were no alternatives. the infrastructure was in dire straits. a lot of people didn't want to believe it had to be done, but it had to be done. what came out of those lawsuits by the upper chattahoochee river keeper were two consent decrees, focused on overflows. the intent is, city of atlanta, you need to keep the flows in the pipe. narrator: with the help of the funding the city raised, atlanta has been implementing an asset management plan that evaluates and addresses their infrastructure issues. hunter: it's a continuum. at one end, you have your regular maintenance that you do every day on the system, and at the other end, long-term planning so that every year we're repairing, replacing the right things, and we don't have to do it all at once, which is,
. he gets all this additional tax revenue for new programs. he gets to cut the military, which democrats have been calling for for years, and he gets to blame republicans for it. >> so, hey, merry christmas. our white house correspondent brianna keilar is traveling with the president in honolulu. brianna, are the white house and republicans even talking? >> reporter: no. they're not, carol. there's no substantive discussions going on between the white house and senate democrats and senate republicans and house republicans. and this is key because in order for the cliff to be averted, there will need to be something passed through congress in both the senate and the house that would require the work of both democrats and republicans. that is very much an issue as all attention now turns toward the senate, which will reconvene on thursday. a lot of focus there. that's where things are expected to start. right now the white house is still saying that they want a plan to avert tax hikes for folks making $25000 or less. it's sort of unlikely, it seems, that republicans would support
the fiscal cliff. everybody's taxes will be going up if we go over it. drastic budget cuts will be going into effect. and leaders in washington have finally agreed to talk. a meeting scheduled this afternoon at the white house. abc's chief white house correspondent, jonathan karl, telling us what we can expect. we want to take a listen to sound from both sides. the looks of things, no one may be getting too far down the road. first, let's listen to what senate minority leader mitch mcconnell said on the senate floor. >> i told the president we'd be happy to look at what he proposes. but the truth is, we're coming up against a hard deadline here. and republicans aren't going to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> meanwhile, the senate majority leader, now, had even harshe harsher words for gop leadership. >> the house of representatives is operating out the house of representatives. it's being operated with a dictatorship of the speaker, not allowing the vast majority of the house of representatives to g
is reached in one week, the tax cuts enacted under president bush will expire and 1.2 trillion in spending cuts will automatically go into effect. if we do go over the fiscal cliff, how will it affect you from your paycheck to your retirement accounts? we're going to give you all the tips you need to protect yourself. here to do that this morning is ry ryan mac, president of opt middle school management. >> kudos for being able to pronounce that honolulu merry christmas saying. >> i don't think i can do it again. ahah! let's start with your paycheck as it applies to the fiscal cliff. if we go off the fiscal live how will mooirn and everybody's paycheck be affected? the majority of the paycheck won't be afeektded until 2014 when people file for 2013 stackses. there are certain things that are impacted right away like the payroll tax cut. for individuals earning about $50,000 a year, they'll be having to pay about $85 less because of the payroll tax cut will be expiring so that will be, again, almost $90 a month that will mere live come into play but the majority of the individuals when 2014
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